Insider Selling: Toast (NYSE:TOST) CRO Sells 13,797 Shares of Stock

Toast, Inc. (NYSE:TOST) CRO Jonathan Vassil sold 13,797 shares of the company’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $36.01, for a total transaction of $496,829.97. Following the sale, the executive directly owned 69,966 shares of the company’s stock, valued at approximately $2,519,475.66. This represents a 16.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Jonathan Vassil also recently made the following trade(s):

• On Wednesday, August 5th, Jonathan Vassil sold 4,700 shares of Toast stock. The stock was sold at an average price of $36.02, for a total transaction of $169,294.00.
• On Monday, August 3rd, Jonathan Vassil sold 14,280 shares of Toast stock. The stock was sold at an average price of $32.89, for a total transaction of $469,669.20.
• On Tuesday, July 7th, Jonathan Vassil sold 3,150 shares of Toast stock. The shares were sold at an average price of $30.03, for a total transaction of $94,594.50.
• On Thursday, July 2nd, Jonathan Vassil sold 6,647 shares of Toast stock. The stock was sold at an average price of $28.85, for a total value of $191,765.95.

Toast Price Performance

Shares of NYSE TOST traded up $1.14 during trading hours on Thursday, hitting $35.20. 8,012,682 shares of the company’s stock were exchanged, compared to its average volume of 11,763,831. Toast, Inc. has a 1-year low of $22.26 and a 1-year high of $45.64. The stock has a market capitalization of $18.09 billion, a price-to-earnings ratio of 45.12 and a beta of 1.72. The company’s 50-day moving average price is $28.95 and its 200-day moving average price is $27.89.

Toast (NYSE:TOST) last released its earnings results on Tuesday, August 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $1.91 billion during the quarter, compared to analyst estimates of $1.87 billion. Toast had a net margin of 7.14% and a return on equity of 23.90%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period last year, the business earned $0.13 EPS. On average, research analysts expect that Toast, Inc. will post 1 earnings per share for the current year.

Hedge Funds Weigh In On Toast

A number of hedge funds have recently made changes to their positions in TOST. Bayban bought a new stake in Toast in the fourth quarter valued at about $25,000. SHP Wealth Management bought a new position in Toast during the fourth quarter worth about $29,000. Strive Financial Group LLC bought a new position in Toast during the fourth quarter worth about $29,000. Silicon Valley Capital Partners acquired a new stake in Toast during the fourth quarter valued at approximately $36,000. Finally, Quadrant Capital Group LLC boosted its holdings in Toast by 2,083.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,048 shares of the company’s stock valued at $37,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Wall Street Analysts Forecast Growth

TOST has been the topic of a number of research reports. The Goldman Sachs Group raised shares of Toast from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Thursday, July 9th. Keefe, Bruyette & Woods raised their price target on shares of Toast from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Wednesday, August 5th. DA Davidson boosted their price objective on shares of Toast from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Monday. UBS Group upped their price objective on shares of Toast from $34.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Evercore reiterated an “outperform” rating on shares of Toast in a research note on Wednesday, August 5th. Seventeen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toast currently has an average rating of “Moderate Buy” and an average target price of $39.00.

About Toast

Toast, Inc (NYSE: TOST) is a technology company that builds a cloud-based platform for restaurants and other foodservice businesses. Headquartered in Boston, Massachusetts, Toast offers integrated point-of-sale (POS) systems and a suite of software and hardware designed to streamline front-of-house and back-of-house operations. The company went public in 2021 and has positioned itself as a vertically integrated provider for the restaurant industry.

Toast’s product portfolio includes touchscreen POS terminals and handheld order-and-pay devices, kitchen display systems, and peripherals tailored for high-volume foodservice environments.